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Representation in Malta
News article14 December 2023Representation in Malta

Commission disburses REPowerEU pre-financing payments to Malta under the Recovery and Resilience Facility

Malta's Recovery & Resilience Plan

Today, the Commission has disbursed € 13.9 million to Malta in pre-financing relating to the REPowerEU funds under the Recovery and Resilience Facility (RRF). These pre-financing payments will help to kick-start the implementation of the crucial investment and reform measures outlined in each REPowerEU chapter. This will accelerate the delivery on the REPowerEU Plan’s objectives to save energy, produce clean energy and diversify energy supplies, with a view to make Europe independent from Russian fossil fuels well before 2030, in light of Russia's invasion of Ukraine.  

Today's disbursements also include disbursements to Estonia, Slovakia, Slovenia and France, following the approval by the Council of each country’s revised plan, which includes a REPowerEU chapter.

Pre-financing payments are equivalent to up to 20% of the additional funds requested to finance each country's REPowerEU chapter. 

More information on the measures included in the REPowerEU chapters can be found for Malta here. For more information on REPowerEU and the link with the RRF, please consult thisQ&A.   

(For more information: Veerle Nuyts – Tel.: +32 2 29 96302) 

REPowerEU measures in Malta’s plan

Malta’s plan now includes one reform and one investment to reduce its reliance on fossil fuels, in line with one of the REPowerEU Plan's objectives.

To finance this increased ambition, Malta has asked for a share of its Brexit Adjustment Reserve to be transferred to the plan, amounting to €40 million. These funds would be added to Malta's REPowerEU grant of €30 million.

Key measures for REPowerEU

The REPowerEU measures include a reform of the permitting system for renewable energy projects and a EUR 70 million investment in the electricity grid.

The reform will help accelerate procedures for granting permits for renewable energy projects and introduce an obligation to install rooftop solar panels on certain new buildings. 

The investment will strengthen and expand the electricity grid and distribution services, while also building centralised battery storage capacity. 

Together, these measures are expected to increase Malta’s share of renewable energy and accelerate decarbonisation of energy generation, building and transport sectors.

Details

Publication date
14 December 2023
Author
Representation in Malta